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China's aviation industry will lose around US$1.5 billion in revenue in 2012 as a result of competition from the high-speed train network, believes Daiwa Capital Markets.
The financial services outfit estimated that Air China, China Southern Airlines and China Eastern Airlines would each lose $360 to $45 million, representing 24 percent, 50 percent and 68 percent of their 2011 net profit respectively.
"We expect the impact to be larger on China Southern and China Eastern, due mainly to their small profit bases," Daiwa told Dow Jones.
Cargonews Asia
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